07 Oct Closes $2,614,100 Land Development Loan in Highland, Utah
The Nelson Funding team is pleased to announce the recent closing of a $2,614,100 land acquisition and development loan in Highland, Utah. The loan proceeds will be used to develop seven single-family lots which will then be sold at completion. The loan represents a 63% LTC at a rate of Prime + 200 bps. Nelson Funding was able to leverage a local credit union that is very familiar with the local market and land development loans. The single-family lots will help provide inventory in a highly constrained market.
Nelson Funding is a nationwide commercial loan broker and correspondent lender helping borrowers get the best possible financing for their respective projects. Nelson Funding has provided financing for over 80 projects and placed more than $600mm of capital. Nelson Funding has the experience to get almost any project funded: from new construction to cash-out refinances, land development, and more.
Next time you need a single-family construction or development loan in the growing Highland, Utah commercial real estate market, call the experienced team at Nelson Funding. Our team will happily review your commercial real estate project and quickly identify the best capital solutions for your development. If you have a scenario you would like us to review, send us an email at firstname.lastname@example.org or visit our webpage nelsonfunding.com.
Nelson Funding remains committed to helping our clients secure the best financing for their Highland, Utah area commercial real estate projects despite a rising interest rate environment and tightening lending standards. With Nelson Funding’s capital market relationships and highly experienced team, we are still placing high-leverage debt for all deal types including land development, single-family construction, multifamily construction, industrial, office, retail, hospitality, special-use, cannabis, and more.